Category: High Courts

Unexplained income-cash deposit in bank after 2-3 months held not probable as withdrawals made in small amounts mostly by employee – P&H High Court

Unexplained income-cash deposit in bank after 2-3 months held not probable as withdrawals made in small amounts mostly by employee – P&H High Court

March 26, 2017 High Courts, Income Tax, Judgments
Unexplained income-cash deposited in bank after 2-3 months gap held not probable as withdrawals made in small amounts mostly by employee – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1187 (2017) (03) HC The Grievance: The appellant-assessee had filed the present appeal under Section 260A …
Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana HC

Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana HC

March 26, 2017 High Courts, Income Tax, Judgments
Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1186 (2017) (03) HC Date/Month of Pronouncement: March, 2017 The Ground of Appeal: The present judgments involves two appeals filed …
Delay in filing appeal condoned as CA was unaware of law. Quality of-explanation, legal assistance and detriment to Revenue important factors-Madras HC

Delay in filing appeal condoned as CA was unaware of law. Quality of-explanation, legal assistance and detriment to Revenue important factors-Madras HC

March 25, 2017 High Courts, Income Tax, Judgments
Delay in filing appeal condoned as CA was unaware of law. Quality of explanation, legal assistance to litigant, and detriment to Revenue important factors to consider- Madras High Court ABCAUS Case Law Citation: ABCAUS 1185 (2017) (03) HC The Moot Question: Can a litigant be prejudiced on account …
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

March 24, 2017 High Courts, Income Tax, Judgments
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). In a recent judgment, the Hon’ble Delhi High Court has held that the terms used in the relevant sub-section are the only designations of the officers who could receive a copy of the order. Therefore, in the …
Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

March 10, 2017 High Courts, Income Tax, Judgments
Interest expenditure Disallowance u/s 36(1)(iii) for interest free loan-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law, pronounced in ignorance. ABCAUS Case Law Citation: ABCAUS 1166 (2017) (03) HC The Grievance: The appellant assessee was aggrieved by part of the …
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

March 9, 2017 High Courts, Income Tax, Judgments
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC In a recent judgment, the Hon’ble Allahabad High Court has held that capital gain exemption u/s 54F not allowable if construction not started within prescribed time. ABCAUS Case Law …
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

March 8, 2017 High Courts, Income Tax, Judgments
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished. The judgment was delivered by the Hon’ble Allahabad High Court in a batch of similar cases. ABCAUS Case Law Citation: ABCAUS 1160 (2017) (03) HC Question …